Post by mccallister84 on Apr 15, 2020 9:39:09 GMT -5
My sister was on unpaid FMLA leave for a good portion of 2019, making their AGI much lower than 2018. They just filed their 2019 taxes this past weekend and received their stimulus payment today and based on the amount they received it was based on their AGI from 2018. Is there anything they can do?
From what I've read, there's currently no way for requesting a review of the payment issued. It will be ultimately based on the 2020 AGI though, so if her 2020 AGI is lower her 2018 AGI she will get the remaining payment at that point. Not that it's any help now though.
“With sorrow—for this Court, but more, for the many millions of American women who have today lost a fundamental constitutional protection—we dissent,”
From what I've read, there's currently no way for requesting a review of the payment issued. It will be ultimately based on the 2020 AGI though, so if her 2020 AGI is lower her 2018 AGI she will get the remaining payment at that point. Not that it's any help now though.
what does this mean if your 2020 AGI pushes you over the threshold? My husband and I just barely came in under the $150k joint maximum, what happens if our 2020 AGI is higher, are you expected to give money back? I haven't heard this before.
From what I've read, there's currently no way for requesting a review of the payment issued. It will be ultimately based on the 2020 AGI though, so if her 2020 AGI is lower her 2018 AGI she will get the remaining payment at that point. Not that it's any help now though.
what does this mean if your 2020 AGI pushes you over the threshold? My husband and I just barely came in under the $150k joint maximum, what happens if our 2020 AGI is higher, are you expected to give money back? I haven't heard this before.
I've read that there is no clawback provision. So if you end up not qualifying for the stimulus because your 2020 AGI is too high, they aren't going to ask for that money back next year.
“With sorrow—for this Court, but more, for the many millions of American women who have today lost a fundamental constitutional protection—we dissent,”